HPC thread of the week

TheeMaskedTurnip

It makes a lot of sense if someone could point Jake over to MSE as he will not get any salient advice over on HPC goon central. Just bitter onesided nonsense.

chucknorris

robmatic wrote: »

I bought in 2010 in a development of 1 and 2 bedroom flats. Two bedroom flats when they came on the market were about £30,000 more expensive than the 1 bedroom ones but by getting the extra bedroom I was able to rent out my spare room for £350pm tax-free.

It made a lot of economic sense.

That is exactly what I meant, and of course the tax free rent has recently been increased to £7,500.

mwpt

My property has a decent garden and room for a small bungalow at the end. If planning laws in the UK weren't so crappy I'd build one (secluded by hedges from main house) and rent it out .

chucknorris

mwpt wrote: »

My property has a decent garden and room for a small bungalow at the end. If planning laws in the UK weren't so crappy I'd build one (secluded by hedges from main house) and rent it out .

Would an annex (i.e. classed as part of the house and could never be separately sold) of some sort not be possible? Or maybe it would, but with some sort of condition forbidding letting it out.

mwpt

chucknorris wrote: »

Would an annex (i.e. classed as part of the house and could never be separately sold) of some sort not be possible? Or maybe it would, but with some sort of condition forbidding letting it out.

Yes, I probably meant annex. My garden has room for it but it's not that big, it would still be classed as part of the property (less than 20 meters away). But when I last looked into it, briefly, I discarded the idea because it seemed that getting permission for people to live in an external dwelling is nigh on impossible. I wouldn't let it out as such, I'd prefer to take in lodgers, just that they live in the annex rather than the main building. I could probably cope with that for a few years for the income.

wotsthat

mwpt wrote: »

Yes, I probably meant annex. My garden has room for it but it's not that big, it would still be classed as part of the property (less than 20 meters away). But when I last looked into it, briefly, I discarded the idea because it seemed that getting permission for people to live in an external dwelling is nigh on impossible. I wouldn't let it out as such, I'd prefer to take in lodgers, just that they live in the annex rather than the main building. I could probably cope with that for a few years for the income.

You're quite vocal about how much you dislike BTL. Do you see a big difference between renting out a whole house compared to renting out part of a house?

mwpt

wotsthat wrote: »

You're quite vocal about how much you dislike BTL. Do you see a big difference between renting out a whole house compared to renting out part of a house?

Yes, I will be adding more dwelling space to the stock as opposed to using debt to commandeer a property that might have gone to an OO and renting it back to those people.

wotsthat

mwpt wrote: »

Yes, I will be adding more dwelling space to the stock as opposed to using debt to commandeer a property that might have gone to an OO and renting it back to those people.

Building to rent = good

Renting pre-owned housing = bad

So no issue with BTL's buying dwelling space direct from builders and adding to the stock?

Commandeer using debt sounds a bit loaded - in practice that translates as buying with a mortgage which is a custom of BTL and OO alike.

Blacklight

Who the hell is Guy Pratt? Better let Roger Waters know someone's stolen his band.

caronoel

Count danny of Nowhere has finally conceded that Northampton achieved prices are now well above their previous 2007 high and rising rapidly.
http://www.housepricecrash.co.uk/forum/index.php?/topic/208223-nationwide-03/page-2

Poor old Danny.